ISLAMABAD — The International Monetary Fund (IMF) has somewhat regrettably admitted today that Pakistan is set to reserve its space on the Financial Action Task Force’s (FATF) greylist until June, at the earliest. This comes as the financial watchdog wraps up its plenary meetings in Paris, as Pakistan’s economy suffers some of the worst hyperinflation the country has seen since its inception almost eighty years ago.
Pakistan will be unable to seek out financial aid from the IMF, as it usually has in times of economic crisis, until its space on the FATF greylist is cleared out. The Pakistani government has established somewhat of a contingency plan to combat money laundering in the Republic, which is set to be completed by the end of January next year.
These plans are crucial for the country not to slip into the FATF’s blacklist, which would effectively call for an complete global outlaw of FDI being pumped into the region.